Rawle Lucas

Wide-ranging powers The National Industrial and Commercial Investments Limited (NICIL) was formed in July 1990.

Decree On May 26, 2015, the Government of Venezuela issued Decree 1787 which purported to annexe the territorial waters of Guyana off of Guyana’s Essequibo coast.

Controversy The experience with the Berbice River Bridge and its relationship with the investment made by the government seem to make people leery about using the public-private partnership investment model in the construction of projects in the future.

Complicated In a process complicated by the prorogation of parliament and the holding of elections after the mandatory budget approval period had passed, the Granger administration had to put together a budget for 2015.

Concern The concern over the deal on the Berbice River Bridge is not only about the level of the investment made by the government vis-à-vis the private sector, but also about the mode of the investment.

Illicit activities The recent disclosure in local print and online media that gold was being smuggled out of Guyana in significant quantities is a blow to the integrity of Guyana’s revenue collection system and an apparent indictment of all aspects of port security ‒ land, sea and air.

Collection entity   For a government to carry out its work or execute the policies that it has adopted for the management of the country, it needs money.

Open mind There is something about the Amaila Falls Hydropower project that haunts this writer.

Replacement Some 33 years ago, global politics and economics combined to force Guyana into searching for a replacement for wheat flour.

Jitters There are jitters about the Guyana economy and some observers have moved towards the view that the economy is in recession.

Endowed It is understood that Guyana has been encouraged to become a part of the Extractive Industry Transparency Initiative (EITI).

Submersible The change of government and the aggression shown by Venezuela towards Guyana have brought the PetroCaribe energy agreement into sharp focus.

Historic institution GuySuCo is now the subject of inquiry, which inquiry, among other things, aims to determine if the company could be saved.

(Conclusion)   Less tension Member countries of the International Monetary Fund (IMF) are required to avoid the use of restrictive practices that interfere with or undermine international trade.

Most feared Every time one reads about the economic crisis in Greece, one cannot help thinking of how the world has changed.

  The word forensic   Over the past month or so, Guyanese have heard the words forensic auditing come into frequent use in relation to the activities of the past government.

No-nonsense programme   When a country runs into financial trouble, it turns to the IMF for help, and depending on its level of development and financial health, the IMF gives it a structural adjustment programme to suit.

Early news The early news that has emerged from the new administration about the financial condition of Guyana is not good and one fears that it is likely to worsen as the stories about the condition of different parts of the economy unfold.

(Part 1) Equally worrisome The first part of this article considered what oil would mean for the production structure of Guyana.

Official announcement The official announcement last week that Guyana had oil in significant quantities is something that Guyanese were waiting a long time to hear.